Retail

Eight-Story, 18-Unit Residential Building Filed At 263 Franklin Avenue, Bedford-Stuyvesant

2:00 pm on January 26, 2016 By Reid Wilson

Jacob Movtady, doing business as an anonymous LLC, has filed applications for an eight-story, 18-unit residential building at 263 Franklin Avenue, in western Bedford-Stuyvesant, located two blocks from the Bedford – Nostrand Avs. stop on the G train. The entire project will measure 16,493 square feet and 11,284 square feet of that will be residential space. That means units will average a rental-sized 627 square feet apiece. The residential lobby and recreational space will be located on the ground floor and retail space will occupy the cellar. Floral Park-based Sion Consulting Engineering is the applicant of record. The 40-foot-wide lot is currently vacant.

Four-Story, 35,000 Square-Foot Retail Project Planned At 257-263 West 34th Street, Midtown

6:00 am on January 26, 2016 By Reid Wilson

Cornell Realty Management is planning to build a four-story, 35,000 square-foot retail project at 257-263 West 34th Street, in the Garment District, according to Crain’s New York Business. According to The Real Deal, which reported on the assemblage last month, Chetrit Group and Cornell Realty acquired the three-story retail building at 261-263 West 34th Street together last March for an undisclosed amount. 259 West 34th Street was also recently acquired for $20.5 million. Chetrit and Cornell have since cut their partnership and, through a deal, have split their properties into separate ownerships. Cornell’s retail project will be clad in glass and construction is expected to begin sometime this year. A total of three small retail buildings must first be demolished.

Reveal For Six-Story, 71-Unit Mixed-Use Building At 165 Huguenot Street, New Rochelle

3:00 pm on January 25, 2016 By Reid Wilson

Last October, YIMBY brought you news that Anup Misra, head of East & Hudson Real Estate, is developing a six-story, 71-unit mixed-use building at 165 Huguenot Street, in downtown New Rochelle. Now, the Daily Voice has a rendering of the project, dubbed the Print House. The 64,000- square-foot building will feature studio, one-, and two-bedroom rental apartments, measuring between 500 and 975 square feet apiece. There will also be 3,000 square feet of ground-floor retail space. The New Rochelle Industrial Development Agency recently approved a 12-year Payment in Lieu of Taxes (PILOT) structure for the project, which is a tax incentive. An existing two-story commercial building must first be demolished. Construction is expected to begin this spring, with completion scheduled in 2017. Magnusson Architecture & Planning is behind the design.

Request For Proposals Released For Mixed-Use Development Site At 2870 Webster Avenue, Bedford Park

2:00 pm on January 25, 2016 By Reid Wilson

The New York Botanical Garden has released a Request for Proposals (RFP) for a mixed-use development assemblage at 2856-2870 Webster Avenue and 412 Bedford Park Boulevard, in Bedford Park. According to Curbed NY, the site could accommodate roughly 300 residential units, in addition to a 125-plus-key hotel and at least 12,000 square feet of retail. The site is located right above the Metro-North Railroad’s Botanical Garden station and currently consists of multiple low-rise commercial buildings. Proposal submissions are due on March 1, and the Garden is hoping to choose a developer before April.

Three World Trade Center Rises Into The Sky At 175 Greenwich Street, Financial District

6:30 am on January 25, 2016 By Reid Wilson

YIMBY last brought you news of Three World Trade Center, at 175 Greenwich Street in the Financial Distinct, in August when we revealed the height of the 80-story office tower was reduced to 1,079 feet. Since then, when the concrete core had reached roughly the half-way point, the tower has risen significantly, as seen in photos by Tectonic. The core is now closing in on the neighboring Four World Trade Center, which stands 977 feet in height. Steel work is occurring roughly halfway up the tower, and fireproofing and glass installation is taking place on the lower levels. There will be 150,000 square feet of retail space across five floors in the 2.8-million-square-foot building. Silverstein Properties is developing the tower, Rogers Stirk Harbour + Partners is designing it, and completion is expected in 2018.

City Envisions Seven-Story, 75-Unit Affordable Residential Building At 211 Elizabeth Street, NoLIta

4:00 pm on January 22, 2016 By Reid Wilson

Back in August of 2015, news broke that the city was moving forward with plans to develop affordable housing at the Elizabeth Street Garden, located at 211 Elizabeth Street (a.k.a. 21 Spring Street), in NoLIta. Now, Curbed NY reports the Department of Housing Preservation and Development is envisioning a seven-story, 60-to-75-unit residential building with retail space. The building would take up roughly 15,000 square feet on the 20,265 square-foot lot, and the units, which would be geared towards seniors, will average between 800 and 900 square feet apiece. The city plans to launch a Request for Proposals (RFP) in the spring and a developer will hopefully be selected by the end of the year. At that point, the project would require approval via the Uniform Land Use Review Procedure (ULURP). Construction is tentatively expected to begin in 2018 for completion in 2020.

Eight-Story, 60-Unit Mixed-Use Building In The Works At 98-02 Queens Boulevard, Rego Park

3:00 pm on January 22, 2016 By Reid Wilson

Over the summer, YIMBY reported on filings for an eight-story mixed-use building at 98-02 Queens Boulevard, in Rego Park, and now DNAinfo has the latest information on the project, which will have 60 rental apartments. The new building will encompass 75,000 square feet and will feature one-, two-, and three-bedroom units. Retail will span the entire ground floor and 7,000 square feet of community space will be located on the first level. The residential units on the top seven floors will average 657 square feet apiece. George Baharestani’s Bahar Corporation is developing, and Forest Hills-based Peter Casini is the architect of record. The existing single-story retail building will be demolished in the spring once the remaining tenants have vacant the property. Demolition permits were filed last October. Completion is expected in the second half of 2017.

14-Story, 81-Unit Condo Conversion Planned At Former Office Building At 49 Chambers Street, Civic Center

2:00 pm on January 22, 2016 By Reid Wilson

In 2013, Chetrit Group acquired the 14-story, 200,000-square-foot former Emigrant Industrial Savings Bank building at 49-51 Chambers Street, in Civic Center, for $89 million with plans for a residential conversion. The office building, an individual landmark, was constructed in 1912 and designed by Raymond F. Almirall, and the Landmarks Preservation Commission would have to approve any alterations. The conversion project will include 81 condominiums, according to plans filed with the Attorney General’s office, The Real Deal reports. The units will come in one- to four-bedroom configurations and is expected to have a sellout of $334 million. Accordingt to filings, there will be 215,711 square feet of residential space, so units will average 2,663 square feet apiece. Ground-floor retail is also part of the plan. Woods Bagot is the architect of record.

Eight-Story, 32-Unit Mixed-Use Building Wraps Up Construction At 1770 Madison Avenue, East Harlem

4:00 pm on January 21, 2016 By Reid Wilson

In April of 2014, YIMBY revealed renderings of the eight-story, 32-unit mixed-use project at 1770 Madison Avenue, in East Harlem on the corner of East 116th Street. Later the same year, the building topped out, and today the structure is fully clad and wrapping up construction, Harlem+Bespoke reports. The building measures 47,857 square feet in its entirety, and includes 5,124 square feet of retail on the ground and cellar levels, 6,310 square feet of medial offices on the second floor, and 25,241 square feet of residential space. The units will average 789 square feet apiece, and seven of them will rent at below-market rates through the housing lottery. Low Income Marketing Group is developing and Avinash K. Malhotra Architects is the architect of record. Opening is probable within the next few weeks.

ULURP Kicks Off For 23-Story, 335-Unit Mixed-Use Building At 2 Sherman Avenue, Washington Heights

11:00 am on January 21, 2016 By Reid Wilson

The Uniform Land Use Review Procedure (ULURP) has officially kicked off for the proposed 23-story, 335-unit mixed-use building at 2 Sherman Avenue, in the Fort George section of Washington Heights, located four blocks from stops on either the A or 1 trains. The project, developed by Washington Square Partners and Acadia Realty Trust, will include retail space and a community facility. According to Politico New York, the project will be the first to utilize Mayor Bill de Blasio’s Mandatory Inclusionary Housing program, which requires developers to rent 30 percent of the residential units at below-market rates in exchange for a rezoning. The mayor’s program is expected to be voted on over the next few months. If the program is not established, the developers will go ahead with the city’s current system, which would require 20 percent of the units to be affordable. An existing two-story commercial building must first be demolished.

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